Laffer Investments Has $544,000 Stake in Rio Tinto plc ADR (RIO)

Laffer Investments reduced its stake in shares of Rio Tinto plc ADR (NYSE:RIO) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,225 shares of the mining company’s stock after selling 324 shares during the period. Laffer Investments’ holdings in Rio Tinto were worth $544,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Eqis Capital Management Inc. raised its stake in Rio Tinto by 79.4% during the 4th quarter. Eqis Capital Management Inc. now owns 15,100 shares of the mining company’s stock valued at $732,000 after purchasing an additional 6,681 shares during the period. Crossmark Global Holdings Inc. raised its stake in Rio Tinto by 4.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 212,719 shares of the mining company’s stock valued at $10,313,000 after purchasing an additional 8,945 shares during the period. Naples Global Advisors LLC raised its stake in Rio Tinto by 3.6% during the 4th quarter. Naples Global Advisors LLC now owns 52,635 shares of the mining company’s stock valued at $2,663,000 after purchasing an additional 1,845 shares during the period. Capital Guardian Trust Co. raised its stake in Rio Tinto by 7.2% during the 3rd quarter. Capital Guardian Trust Co. now owns 191,236 shares of the mining company’s stock valued at $9,757,000 after purchasing an additional 12,872 shares during the period. Finally, FMR LLC raised its stake in Rio Tinto by 3.8% during the 3rd quarter. FMR LLC now owns 271,670 shares of the mining company’s stock valued at $13,861,000 after purchasing an additional 9,956 shares during the period. 7.89% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on RIO. Zacks Investment Research downgraded Rio Tinto from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. CLSA downgraded Rio Tinto from an “outperform” rating to an “underperform” rating in a research note on Thursday, February 7th. Bank of America downgraded Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Thursday, February 28th. HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, ValuEngine raised Rio Tinto from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Rio Tinto has a consensus rating of “Hold” and an average target price of $56.66.

Shares of Rio Tinto stock traded up $0.81 on Monday, reaching $56.95. The company had a trading volume of 77,564 shares, compared to its average volume of 2,944,365. The stock has a market cap of $72.16 billion, a price-to-earnings ratio of 11.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98. Rio Tinto plc ADR has a 1 year low of $44.62 and a 1 year high of $60.72.

The business also recently announced a semiannual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be issued a $1.806 dividend. This is a boost from Rio Tinto’s previous semiannual dividend of $1.27. The ex-dividend date is Thursday, March 7th. This represents a dividend yield of 6.19%. Rio Tinto’s payout ratio is 71.01%.

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Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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